Justices Mull Third Party Suits In Stoneridge Case

Law360, New York (October 9, 2007, 12:00 AM EDT) -- Though the majority of the U.S. Supreme Court seemed skeptical of endorsing third party securities litigation, the justices' questioning indicated that predicting the outcome of the Stoneridge Investment Partners LLC v. Scientific-Atlanta Inc. case may be impossible.

The Court on Tuesday heard arguments in the landmark suit, which raises the question of whether private parties can bring securities actions against an outside company for playing a role in deceptive activities as part of another company’s accounting fraud.

The case stems from a securities lawsuit filed against...
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